Breaking Down SG&A Expenses: Johnson & Johnson vs Insmed Incorporated

A Tale of Two Giants: SG&A Expenses in the Pharmaceutical Industry

In the ever-evolving landscape of the pharmaceutical industry, understanding the financial dynamics of major players is crucial. Over the past decade, Johnson & Johnson and Insmed Incorporated have showcased contrasting trends in their Selling, General, and Administrative (SG&A) expenses. From 2014 to 2023, Johnson & Johnson's SG&A expenses have remained relatively stable, averaging around $21 billion annually, with a slight dip in 2022. In contrast, Insmed Incorporated has seen a dramatic increase, with expenses growing by over 1,000% from 2014 to 2023. This surge reflects Insmed's aggressive expansion and investment in research and development. While Johnson & Johnson's expenses highlight its established market presence, Insmed's rising costs underscore its growth ambitions. This financial narrative not only illustrates the strategic priorities of these companies but also offers insights into the broader industry trends.